Skip to main content

Mindanao Daily Set B (August 9, 2016)

Page 1

vertical home builders enterprises Patag Highway, Cagayan de Oro City

Tel. No. 858-5789 / Fax No. 850-5020; Cel. Nos. 0919-655-3754, 0923-304-2676 Email: verticalhomebuilders@yahoo.com

Dealer of hardware and construction materials: Product Lines: Angle Bars; Gl Pipes; C-Purlins; Holow Blocks; Coco Lumber; Carrying Channel; Double Furring Channel; Single Furring ; Acoustic Board; Polycarbonate; Power Tools; Good Lumber S4S; Panel Doors; PVC Laminated Panel; PVC Vertical Blinds; Roller Blinds ; Wooden Blinds; Armstrong Vinyl Tiles; Kent Vinyl Tiles; Parquet Tiles - Apo Vinyl Tiles.

“YOU NAME IT, WE HAVE IT.”

Mindanao DAILY Distributor & Dealer of: Steel Bars; Holcim Cement; Davis Paint; Sand & Gravel; Plywood; INdustrial Supplies; Finishing Supplies; Electrical Supplies; Power Tools; Air Compressors

THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT

Volume VI, No. 062

CHENG ORDOÑEZ, Section Editor

Business Tuesday

August 9, 2016

P15.00

B1

‘Under Duterte government’

Hog raisers see better business HOPES are high among small time hog raisers in North Cotabato, following the 1st Hog Raisers Forum in Libungan over the weekend where they learned the government shifts its focus on them. “It gave them hope that the Duterte administration,

through the Department of Agriculture, is looking for their welfare,” Forum organizer Board Member Soc Piñol of North Cotabato’s 3rd district said in a statement. Ab out 5 0 0 p ar t i c i pants, mostly small time hog raisers whose income

have dwindled lately due to smuggled imported meat and lack of government support, were elated at reports the Agriculture Sec. Manny Piñol is looking for their welfare. “Not only hog raisers but all farmers because that is the order of President

Duterte to DA Sec. Piñol,” Bong Piñol, DA secretary’s executive assistant, told hog raisers. “We are sent here by Sec. Manny to show you that the Duterte government is serious in helping you in your farming ventures,” See hog, page B3

(Photo Shows) Davao del Sur “Olympic Size Swimming Pooll” negligence of duty under the Administration of Governor Claude Bautista since he sat as Governor in the Province of Davao del Sur from 2013 to 2016. It was through the effort of Governor Douglas Ra. Cagas when he was a Governor last 2013.Cagas said, at his time was completed and over crowded witness on turn-over ceremony. (R.S.)

‘No excuses not to end Endo’ By Mark D. Francisco

CAGAYAN DE ORO CITY – Damn if you don’t. Communications Secretary Martin Andanar echoed President Duterte’s stance and said there will be no excuses for businesses not to abolish endo or so-called “end of contract” schemes by hiring and dismissing workers after six months to get around the tenure provisions of the 1974 Labor Sec. Andanar Code of the Philippines. In a press conference, he does not foresee even micro, small and medium A vendor sells huge durian fruits, weighing five kilos each, at P50 a kilo, over the weekend, near the Provincial Capitol in Monday afternoon (August 8, 2016), here, Andanar said See endo, page B3 Cagayan de Oro City. PHOTO BY GERRY LEE GORIT

quality tarpaulin printing contact: mindanao daily news publishing corporation Mdntarps@gmail.com (0935) 161 3398 look for Anabelle, (088)881-0100 Tanleh Bldg. Abellanosa St., Consolacion, Cagayan de Oro City Editorial: e-mail: mindanaodailynews@gmail.com • Advertising: e-mail: mindanaodaily.ads@gmail.com Contact: 0917-7121424, 0947-8935776


B2

FOR ADS PLACEMENT CALL OR TEXT: 0917-712-1424 • 0947-893-5776 E-Mail: mindanaodailynews@gmail.com

Mindanao DAILY THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT

Tuesday, August 9, 2016

BSP honors its Stakeholders in Region III The awards ceremony and appreciation lunch for stakeholders of the Bangko Sentral ng Pilipinas (BSP) in Region III held at the Xenia Hotel, C.M. Recto Highway, Clark Freeport Zone, Angeles City, Pampanga on NOTICE NOTICE is hereby given that the estate of FELICISIMO TURAJA NAKILA, who died intestate on February 05, 2015 in D-Azucena, Barangay 7, Nasipit, Agusan del Norte, consisting of: 1) A residential lot situated in Triangulo, Nasipit, Agusan del Norte covered by Transfer Certificate of Title No. RT-2605, registered in the name of Felicisimo Nakila, containing an area of 416 square meters; and 2) A residential building constructed on deceased Felicisimo Nakila’s lot under TD No. 08-06-0003-09107 covered by Tax Declaration No. 1586, with an area of 60.71 square meters, is the subject of an EXTRA-JUDICIAL SETTLEMENT OF ESTATE WITH WAIVER AND RELINQUISHMENT OF RIGHTS made and entered into by and among deceased Felicisimo Turaja Nakila’s sole and only heirs, namely, widow Alberta A. Nakila, and children Eddie A. Nakila, Nellie N. Bulaybulay, Susan N. Madura and Felbert A. Nakila, per Doc. No. 404; Page No. 1; Book No. IX; Series of 2016 of the Notarial Registry of Rema Erigbuagas-Burdeos, Lawyer-Notary Public for and in the City of Butuan. MDN: Aug 2, 9 & 16, 2016

5 August 2016 was led by Monetary Board Member Felipe M. Medalla. MOF Company (Subic), Inc. was chosen as the Outstanding Respondent among Large and Medium Firms for the Business Expectations Survey (BES) in Region III while PTT Philippines Trading Corporation was recognized as the Outstanding Respondent among Small Firms. The National See honors, page B3 NOTICE Notice is hereby given that the intestate estate of the Late PEDRO and PILAR SEMINE, who died without will and testament, left no debts to any person and leaving a parcel of land identified as Denominated Lot No. 4747 embraced with O.C.T. No. P-16363. Containing an area of 8,055 sq.m., located at Agoho, Mambajao, Camiguin is the subject of DEED OF EXTRAJUDICIAL SETTLEMENT OF ESTATE WITH ABSOLUTE SALE OF A PORTION OF LAND (sold portion on the said title is 3,094 sq.m.) sold in favor of the Spouses Carmel Therese Almadrones and Mark Almadrones, executed by surviving heirs of the said Late Pedro and Pilar Semine, under the Notarial Registry of ATTY. VITO M. CARILLO, per Doc. No. 87; Page No. 19; Book No. 91; Series of 2016.

Breaking Barriers of Technology in Remote Areas By Annabelle A. Sumalo - Teacher 1 Bacusanon National High School

The advancement of technology has somewhat elevated the way of mankind, like in education. The introduction of computer and internet brought a faster pace of learning and opened a chapter where students could unravel information beyond discussed inside the classroom setting and even explore something new which are of so much help in their lessons. However, say that these technology are advanced, one problem is the access of remote places to the internet. Education has been centralized and connection to the internet is of utmost importance. There are still several places in the Philippines who are not accessible to

Republic of the Philippines LOCAL CIVIL REGISTRY OFFICE PROVINCE OF MISAMIS ORIENTAL CAGAYAN DE ORO CITY NOTICE FOR PUBLICATION In compliance with Section 5 of R.A No 9048, a NOTICE is hereby served to the public that MA. ELOISA MANUEL ABAD has filed with this office a petition for the change of first name from “MARIA ELUISA” to “MA.ELOISA” in the Certificate of Live Birth of MARIA ELUISA AGPALO who was born on SEPT. 12, 1971 in CAGAYAN DE ORO CITY and whose parents are LUIS MANUEL and EDITH AGPALO. Any person adversely affected by said petition may file his written opposition with this office not later than AUG. 18, 2016.

who cannot connect to the internet. One effective solution is providing softcopies for modules that must be learned by the students. This set of modules could be save to either CD or USB flash disk. In this way, there is no need for an internet because all needed information are already in the material. The good in this method is students can make use of the computer in their school. Department of Education could have done this in other educational programs they are implementing, so distribution of softcopies of modules to remote areas should also be given priorities. Learning might be hard especially for those places that are not easy to be reached, but in providing learning, when there’s a will, there’s a way.

Some Ways to Encourage Reading to Pupils By Helen T. Diez, Teacher III

Many of us teachers don’t realize that the power we have on our pupils is astounding. Saying the right words at the right time can encourage a learner to pick

up a book and fall in love with reading. At the same time, a tactless statement may cause a struggling reader to further deteriorate. The following are some advices that we can give to our students:

Republic of the Philippines Local Civil Registry Office Province: Agusan del Norte City/Municipality: Butuan City NOTICE FOR PUBLICATION

MDN: Aug, 2, 9 & 16, 2016

PRA Form No. 10.1 (LCRO)

the internet, though given a wide array of advanced computers. Due to its distance, it became hard to install internet in the place. Thus, educational activities such as doing a research cannot be done. So, what could be done to address this problem? It is certain that this problem means additional work to the teacher. So, in such case, a teacher must find an internet nearby in the place, do the research, save all of the important data and present it to the class. This must be a lot of sacrifice for educators but this is what is usual to the educators assigned in faraway areas to make learning possible. Next thing is making use of the library. Books

as well play big role in researches. What is good of books, rather than the data available in the internet is you can be sure that the information is well curated. Unlike internet that may present opinions and not fact at all. Remember that internet comprises all information in the world, yet you have to do an intense digging just to get the right information. While in books, the information is exact and you can be sure that authors are reliable, though doing researches might took several hours. So, in making term papers and report for students, making use of the library is the next effective option. Third is that, this problem must be sent to the higher office of Department of Education especially that there are several places

In compliance with Section 5 of R.A. No. 9048, a notice is hereby served to the public that MARIZA UN CASSION has filed with this Office a petition for Change of First Name from “ELISA” to “ELISA GLORIA” in the Certificate of Live Birth of ELISA LUMANTA UN who was born on January 11, 1960 at Butuan Maternity Hospital, Butuan City, Agusan and whose parents are BING SI UN and HELARIA BEÑAS LUMANTA. Any person adversely affected by said petition may file his written opposition with this Office not later than 25 August 2016. (SGD.) JUDITH ALVIZO-CALO, LlB, MPA City Civil Registrar MDN: Aug. 9 & 16, 2016

Republic of the Philippines Province of Misamis Oriental MUNICIPALITY OF CLAVERIA Local Civil Registry Office

(SGD) NORMA S. DIPUTADO CITY CIVIL REGISTRAR

NOTICE OF PUBLICATION

MDN: Aug. 9 & 16, 2016

In compliance with Section 5 of R.A. No. 9048, a notice is hereby served to the public that GINA BALUGTO LIMAS has filed with this Office a Petition for Change of First name from “VICENTE” to “CHARLE” in the Certificate of live Birth of VICENTE NICOLAS LIMAS who was born on DECEMBER 30, 1958 at CLAVERIA MISAMIS ORIENTAL and whose parents are MARCIAL B. LIMAS and SEVERA T. LIMAS. Any person adversely affected by said petition may file his/her written opposition with this Office not later than August 4, 2016.

1. “I believe that your hard work will pay off.” It is good to let students know that you believe in them and create a positive relationship. This will motivate them to establish a love of reading. 2. “Let’s talk about why you aren’t enjoying the reading.” Knowing why your pupil doesn’t love reading can help the teacher in preparing selections that are appropriate to the reading

level of the learner. 3. “Read aloud with a partner.” Some children will learn better when they are reading aloud to one another. Be sure to give praise/s to the pupils because this will let them know that their efforts are being recognized. A little praise or encouragement goes a long way and will result to lifelong love of reading.

Republic of the Philippines Local Civil Registry Office Province: Agusan del Norte City/Municipality: Butuan City NOTICE FOR PUBLICATION In compliance with Section 5 of R.A. No. 9048, a notice is hereby served to the public that ALMA RODRIGUEZ ABULOC has filed with this Office a petition for Change of First Name from “JULIO” to “ANTONIO” in the Certificate of Live Birth of JULIO RODRIGUEZ who was born on January 19, 1952 at Old Davao Road, Butuan City, Agusan and whose parents are ALFREDO RODRIGUEZ and ADELAIDA MACABECHA. Any person adversely affected by said petition may file his written opposition with this Office not later than 25 August 2016. (SGD.) JUDITH ALVIZO-CALO, LlB, MPA City Civil Registrar MDN: Aug. 9 & 16, 2016

OROFIESTA TRADING SERVICES, INC.

(SGD) ANNA VICTORIA A. EVANGELISTA Municipal Civil Registrar MDN: Aug. 2 & 9, 2016

Republic of the Philippines Province of Misamis Oriental MUNICIPALITY OF CLAVERIA Local Civil Registry Office NOTICE OF PUBLICATION

JY TRADING First Standard Finance Corporation Zone 2 Igpit, Opol, Misamis Oriental

services offered: - Vehicle Loans - Real Estate Loans contact numbers

- Car Financing

In compliance with Section 7 of R.A No. 10172, a notice is hereby served to the public that CHERRY MAE LOFRANCO SALVALEON – APUGAN has filed with this office a Petition for Correction of Clerical Error in her SEX from “MALE” to “FEMALE” in the Certificate of Live Birth of CHERRY MAE LOFRANCO SALVANLEON who was born on JANUARY 15, 1979 at CLAVERIA MISAMIS ORIENTAL and whose parents are REDENTOR NOCIETE SALVALEON and GERTRUDES SANCHEZ LOFRANCO. Any person adversely affected by said petition may file his/her written opposition with this Office not later than August 6, 2016. (SGD) ANNA VICTORIA A. EVANGELISTA Municipal Civil Registrar MDN: Aug. 2 & 9, 2016

0935-111-7921 / 0997-381-1836

KIMBERLITE PAWNSHOP MALAYBALAY BRANCH

Kimberlite Pawnshop will be having an AUCTION SALE on all items that expired on June 2016: AUCTION DATE: August 19, 2016 Estrada Bldg., Fortich-Don Carlos Sts., Malaybalay City, Bukidnon


Mindanao DAILY THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT

B3

FOR ADS PLACEMENT CALL OR TEXT: +63917-712-1424 • +63947-893-5776 E-Mail: mindanaodailynews@gmail.com

Tuesday, August 9, 2016

Finish the jobs that you have started The Gospel of Jesus C h r i st ( A u g u s t 9 , 2016-Tuesday) John 21:1-14” They said to him, “We will also come with you.” They went out and got into the boat; and that night they caught nothing. But when the day was now breaking, Jesus stood on the beach; yet the disciples did not know that it was Jesus. And He said to them, “Cast the net on

Honors...

the right-hand side of the boat and you will find a catch. Are you easily disappointed and affected if something comes to worse? Are you a balat sibuyas? The easiest thing to do if you are frustrated is; to keep away from the reality. Some isolate their lives from the crowd and some committed suicidal acts. We can notice that

Economic and Development Authority (NEDA)Region III received the award for Outstanding Partner for the Report on Regional Economic Developments. The Outstanding Regional Partners for Currency Programs of the BSP were conferred to the following: Bank of the Philippine Islands-Maharlika and the Department of Trade and Industry- Bataan for Clean Note Policy ; Bankers Club of Bataan for Coin Recirculation; and City Social Welfare and Development-Cabanatuan and Central Luzon Television 36 for Demonetization of the New Design Series. Lastly, the Department of Trade and Industry- Nueva Ecija and Public Employment and Service OfficePampanga were given the award for Outstanding Regional Partners for Im-

plementing BSP Advocacy on the Conduct of Public Information Campaigns, Each awardee received the “Dynamic Balance, Philippine Eagle” trophy crafted by visual artist and multi-awarded sculptor, Mr. Ferdinand Cacnio. This annual event gives recognition to BES respondents as well as public and private institutions that have helped the BSP perform its mandate of maintaining price and financial stability and ensuring an efficient payments and settlement system. Stakeholders of the BSP in the National Capital Region were earlier recognized during the awards ceremony held last 13 July 2016. This year’s stakeholders awards in Region III marks the eleventh time that the BSP has awarded stakeholders in the region and is the fourth in a series of 12 regional events for the year.

Hog...

Endo...

he said. “Tell us what you need so that we may know what projects DA will extend you,” the younger Piñol said. Piñol organized the forum to help address issues and concerns of hog industry stakeholders. “You need to organize yourselves so you have a strong voice and come up with hog data base system because we have better market opportunities now, not just in Metro Manila markets but among meat processors in the capital,” he said. “The demand in Metro Manila is huge but North Cotabato hog raisers are not organized and empowered to penetrate larger markets,” the provincial legislator added. To help the swine industry players, the forum invited representatives from government agencies that attend to hog raisers’ concerns. Piñol also announced that his buyer-friend is willing to purchase from North Cotabato about 2,000 young swine at PHP2,100 each. This elated the forum participants since the prevailing buying price is only about PHP1,600 a piece. With the DA secretary coming from North Cotabato, the board member said better opportunities await small time hog raisers. (PNA)

dium enterprises (MSMEs) closing shop if endo will be strictly scrapped. “Businessmen can certainly afford to reside in posh houses and vacation in resorts both here and abroad. To take care of their workers, that’s just a little sacrifice,” he said. Under the Philippine Labor Code, employees who have been working for more than six months are entitled to Social Security System (SSS), PhilHealth and Home Mutual Development Fund (PAGIBIG) benefits. “It’s time to help our less fortunate members of society. We should give what is long overdue to them,” Andanar said. Earlier, Oro Chamber joined other business groups elsewhere nationwide in expressing reservation over the abolition of “endo”, fearing that it would cause widespread bankruptcy of businesses all over the country that would lead to a spike in unemployment. Duterte was firm during a press conference in Davao City, last week, that he would not give in to the business groups’ pressure. “If it could mean a reduction of your corporate profits, fine, share it to the people. If you think that you would lose, close shop. You can turn to farming,” Duterte said.

from page B2

from page B1

from page B1

some Jesus disciples went back to their original occupations being fishers. What was the reason of this event? Because of their disappointments and frustrations with the death of their masterJesus, they gave up their interest to follow the footsteps of Jesus to catch the souls of the people. Sometimes we have the same mentality with these

disciples since we are quitting in some of our assignments and doings. We are good at the start but not until the end. You are easily tired in doing the good things but the irony is; you are not easily bored in doing the wrong things. Be persistent only in the right things. This kind of grass grows rapidly but dies abruptly. Take note: quitter never wins and

Biblical reflection winner never quits. My advice; finish the jobs that you have started most especially if that is God instruction for your life on this earth. Do not quit along the way but persevere until your last breath: Printing paid by: Edith Ranoa, PhDMajor Tony Jordan Bro. Edcel L. Closas and Crespina Ranoa - Bobong Balino– Cagayan De Oro: # To Make Your Soul 09187148435: Please Incredible:Note: God have my latest book: bless you!!!

AirAsia celebrates Asean day with low fares across the region Explore exciting destinations in Asean and beyond from as low as P1,058 only MANILA, 8 AUGUST 2016 - AirAsia is offering promotional fares to Asean destinations in conjunction with Asean Day starting today until 14 August 2016. Asean Day celebrates the founding of the Association of Southeast Asian Nations (Asean) with the signing of the Bangkok Declaration on 8 August 1967. From as low as P1,058, guests will be able to explore destinations in all 10 Asean nations – Malaysia, Thailand, Indonesia, Philippines, Singapore, Brunei, Vietnam, Cambodia, Laos and Myanmar. Travel period for this promo is from 9 August 2016 to 14 March 2017. At the same time, guests can also take advantage of low fares to destinations beyond Asean on AirAsia and AirAsia X’s network covering North Asia, South Asia, the Middle East, Australia and Africa. AirAsia Group CEO Tony Fernandes said, “AirAsia would not be AirAsia without Asean. We owe our success to this region. Even as we continue to grow our footprint across Asia Pacific, the Middle East and beyond, our heart remains in Asean, and this promotion is a small thank you to

the region that nurtured our dreams of making air travel affordable for everyone.” He added, “AirAsia is proud to be the only airline that flies direct to all 10 Asean nations. We are also the only airline with an Asean Pass product, which gives our guests a convenient way to explore our network and experience the region’s incredible diversity and amazing cultural heritage.” Holders of the AirAsia Asean Pass and AirAsia Asean Pass+ can enjoy flights

at a fixed rate on more than 120 routes across Asean. Acting like a single currency, the pass eliminates the hassle of juggling different foreign exchange rates as flights are valued according to credits, allowing guests to be creative in planning their ideal trip through the region. A detailed list of the flights that can be redeemed using the Asean Pass and other applicable terms and conditions can be found on the AirAsia website (www. airasia.com).

To catch an exciting glimpse of what Asean has to offer, check out #FlyWithAirAsia on AirAsia’s Youtube channel (www. youtube.com/user/airasia). Keep up-to-date with AirAsia’s latest promotions and activities via Twitter (twitter.com/AirAsiaPh) and Facebook (facebook. com/AirAsiaPhilippines). • Promo is one-way base fare seats excluding airport taxes, fees and other optional services. Terms and conditions apply.

Pinakalami-an!

DALTAN’S KAMBINGAN Kambingan, Bulalohan, Native Manok, Seafoods, Chicken Inasal, Halal Foods.

Tiano Corner J.R. Borja St., Cagayan de Oro City | OPEN 24 HOURS!


Mindanao DAILY Billboard THE PURVEYOR OF TRUTH , JUSTICE, AND DEVELOPMENT

Mindanao Daily TARPS -STICKERS -EWS

tarpaulin sticker billboards

backlitfilm panaflex photopaper

881-0100

0935-1613398

B4 SAP Asia Pacific Japan Accelerates Cloud Growth in Q2FY16 Tuesday, August 9, 2016

Taguig City, Philippines — August 3, 2016 — SAP SE (NYSE: SAP) today announced financial results in the Asia Pacific Japan (APJ) region for its fiscal year 2016 second quarter ending June 30, 2016. Non-IFRS cloud subscriptions and support revenue grew 47% at constant currency. Non-IFRS cloud and software revenue was up 9% at constant currency. Non-IFRS total revenues were €802 million. In APJ, SAP had strong doubledigit software licenses revenue growth in India, whereas Japan had almost triple-digit growth. Both countries grew double-digit in cloud subscriptions and support revenue for the quarter. “Our cloud business continues on its fast growth path, driving strong momentum for SAP Asia Pacific Japan. In the digital economy, we continue to see robust demand for SAP S/4HANA as more customers reimagine their businesses with a digital core that provides immediate insight and agility,” said Adaire Fox-Martin, President, SAP Asia Pacific Japan. SAP customer highlights in the second quarter: • Rockland Distilleries Pvt Ltd, a manufacturer & distributor of spirits and fine wine, has chosen SAP over Salesforce.com and Oracle to lead them through its digital transformation journey. With SAP, Rockland Distilleries will be able to facilitate strategic and transformational decisions based on business insights. • NTUC Fairprice Co-Op Limited, chose SAP HANA, SAP Payroll, SAP Multiposting, and SAP SuccessFactors Suite, including SAP SuccessFactors Employee Central, to improve employee productivity and employee engagement. • The 55 million-tonne-per-annum

Roy Hill Project represents the next generation of integrated iron ore mine, rail and port projects to be developed in the Pilbara region of Western Australia. Situated 115 kilometres north of Newman, the world class Roy Hill Project is the only independent iron ore project with West Australian majority ownership. With SAP, Roy Hill Holdings Pty Ltd aims to improve making informed decisions about their business.

• Daikin Airconditioning India Pvt. Ltd. ( DAIPL) is a 100% subsidiary of Daikin Industries Ltd., Japan, a global leader in the manufacturing of commercial-use and residential air conditioning systems. It purchased SAP Hybris Cloud for Customer and HANA Cloud Integration to facilitate an end-to-end connected system that gives it a 360-degree view of its customers and prospects so it can improve customer experience and

collaboration between sales and service agents, dealers, and field service technicians. • CJ korea express, the largest logistics company in South Korea, aims to become one of the top five global logistics enterprises by 2020. To support its ambitious expansion plans, CJ korea express needed to improve the stability and agility of its IT foundation to deliver short time-tovalue. Therefore, CJ korea express

mdntarps@gmail.com

www.mindanaodailynews.com

chose SAP S/4HANA Finance solution to support the company’s global expansion on a single platform. For more information, visit the SAP News Center. Follow SAP on Twitter at @sapnews. About SAP As market leader in enterprise application software, SAP (NYSE: SAP) helps companies of all sizes and industries run better. From back office to boardroom, warehouse to

storefront, desktop to mobile device – SAP empowers people and organizations to work together more efficiently and use business insight more effectively to stay ahead of the competition. SAP applications and services enable approximately 320,000 business and public sector customers to operate profitably, adapt continuously, and grow sustainably. For more information, visit www.sap. com.

Surging stock market an advantage for SSS members eligible for Option to Sell Shares of Stocks Program Social Security System (SSS) members with overdue accounts for previous SSS loans used for investing in equities are urged to take advantage of recent stock market gains to settle their past due debt obligations through the SSS Option to Sell Shares of Stocks Program. SSS Officer-inCharge of Member Loans Department Esperanza E. Salvado said borrowers with delinquent accounts under the previouslyoffered Stock Investment Loan Program (SILP) and Privatization Fund Loan Program (PFLP) should capitalize on the surging stock market. “The stock market performance this year has been highly

encouraging. We call on delinquent SILP and PFLP borrowers to avail now of the Option to Sell Shares of Stocks Program to secure generous gains from unloading their stocks. More importantly, it helps stop their debt burden from further ballooning,” she said. Launched in February 2015, the Option to Sell Shares of Stocks Program enables borrowers to sell their stocks bought using their SILP and PFLP loans at the prevailing market price as determined by an SSSaccredited stock broker. The resulting proceeds, net of the broker’s commission, taxes and other fees, would be applied to the outstanding SILP or PFLP loan balance, and then to other delinquent member loans and

housing loan, if any. Any excess amount from the sale of stocks would be refunded to the borrower. “If the generated funds from the sale of stocks are inadequate to cover the overdue SILP or PFLP loan balance, the member can pay the remaining amount in cash, or through deduction from salary loan renewal or from final benefit claims. But until the loan is fully paid, the usual monthly penalties and interest will apply,” Salvado explained. Since the launch, the state-run pension fund has recorded a total of 1,115 accounts that have benefited from the Option to Sell Shares of Stocks Program as of the end of June 2016, while collections from these overdue SILP and PFLP payments have

reached P63.56 million. “However, there are still nearly 7,700 SILP and PFLP accounts that remain unpaid. If their loans remain delinquent, the borrowers’ principal, penalties and interest would be deducted from their final benefit claims such as retirement, total disability or death,” Salvado noted. Among the companies whose shares of stocks are held by SILP and PFLP borrowers include Jollibee Foods Corporation, Manila Electric Company, San Miguel Corporation, Philippine Long Distance Telephone Company, Globe Telecom, Petron Corporation, Ayala Land and Union Bank of the Philippines. In the past, SSS members keen to invest

in the stock market could borrow funds under the SILP, which was launched in the 1980s. Meanwhile, the PFLP was introduced in 1994 to serve as the lending facility for SSS members interested to buy stocks during the initial public offering for Petron, which was then governmentowned, as well as to purchase Meralco stocks previously held by the SSS. To avail of the program, interested borrowers should submit their application form along with the required supporting documents to any SSS branch or to the SILP Section of the MLD at the 11th Floor of the SSS Main Office in Diliman, Quezon City. Supporting documents include the notarized

Special Power of Attorney executed by the borrower authorizing the SSS to sell the shares of stocks; accomplished Broker Signature Cards; Customer Account Information Form; photocopy of two governmentissued identification cards with picture and signature; and Statement of Account issued by the SILP Section. Designated representatives can submit the needed documents to the SSS as long as they have an authorization letter duly signed by the corresponding loan borrower. For more details, borrowers can contact the SILP Section of the SSS MLD at 435-9862 or 920-6401 local 5887 and 5915.


Turn static files into dynamic content formats.

Create a flipbook